USD/JPY targets multi year highs - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that the obvious target for Yen is the multi-year high set at the start of the year near JPY105.45.

Key Quotes:

"Much is being made of the capital outflows from Japan, as the cabinet reshuffle expected later tomorrow is tipped to strengthen the hands of those seeking greater overseas investment from the Japanese government pension funds".

"The data today, on the margin, would seem to argue against those seeking more stimulus from the BOJ."